Question 25 Chapter 1 of Class 12 Part – 1
25. Following is an extract of Receipts and Payments Account of Youth Success Association. Show how will you deal with the following items in the financial statements of the not-for-profit organisation.
Receipts and Payments Account
As at 31st March, 2018
|To Government Grant for Club Library||1,50,000|
|To Government Grant||42,000|
The solution of Question 25 Chapter 1 of Class 12 Part – 1: –
Youth Success Association
Income and Expenditure Account
|By Government grant||42,000|
(as at 31st March 2018)
|Government Grant for Club Library||1,50,000|
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